Equity (Tables)

12 Months Ended

Dec. 31, 2013

Equity [Abstract]

Preferred Stock [Table Text Block]

Preferred Stock

The following table displays our senior preferred stock and preferred stock outstanding as of December 31, 2013 and 2012.

		Issued and Outstanding as of December 31,									Annual Dividend Rate as of December 31, 2013
		2013			2012			Stated Value per Share
Title	Issue Date	Shares	Amount		Shares	Amount							Redeemable on or After
(Dollars and shares in millions, except per share amounts)
Senior Preferred Stock
Series 2008-2	September 8, 2008	1	$	117,149	1	$	117,149	$	117,149	(1)	N/A	(2)	N/A	(3)
Preferred Stock
Series D	September 30, 1998	3	$	150	3	$	150	$	50		5.250	%	September 30, 1999
Series E	April 15, 1999	3	150		3	150		50			5.100		April 15, 2004
Series F	March 20, 2000	14	690		14	690		50			0.230	(4)	March 31, 2002	(5)
Series G	August 8, 2000	6	288		6	288		50			0.080	(6)	September 30, 2002	(5)
Series H	April 6, 2001	8	400		8	400		50			5.810		April 6, 2006
Series I	October 28, 2002	6	300		6	300		50			5.375		October 28, 2007
Series L	April 29, 2003	7	345		7	345		50			5.125		April 29, 2008
Series M	June 10, 2003	9	460		9	460		50			4.750		June 10, 2008
Series N	September 25, 2003	5	225		5	225		50			5.500		September 25, 2008
Series O	December 30, 2004	50	2,500		50	2,500		50			7.000	(7)	December 31, 2007
Convertible Series 2004-I(8)	December 30, 2004	—	2,492		—	2,492		100,000			5.375		January 5, 2008
Series P	September 28, 2007	40	1,000		40	1,000		25			4.500	(9)	September 30, 2012
Series Q	October 4, 2007	15	375		15	375		25			6.750		September 30, 2010
Series R(10)	November 21, 2007	21	530		21	530		25			7.625		November 21, 2012
Series S	December 11, 2007	280	7,000		280	7,000		25			7.750	(11)	December 31, 2010	(12)
Series T(13)	May 19, 2008	89	2,225		89	2,225		25			8.250		May 20, 2013
Total		556	$	19,130	556	$	19,130

__________

⁽¹⁾  Initial stated value per share was $1,000. Based on our draws of funds under the senior preferred stock purchase agreement with Treasury, the stated value per share on December 31, 2013 was $117,149.

⁽²⁾  For the dividend period ended December 31, 2013, the dividend is calculated based on our net worth as of September 30, 2013, less the applicable capital reserve amount of $3.0 billion. Starting with the dividend period beginning January 1, 2014, the applicable capital reserve amount will be $2.4 billion for each dividend period in 2014 and will continue to be reduced by $600 million each year until it reaches zero on January 1, 2018. For each dividend period beginning in 2018, the dividend amount will be the entire amount of our net worth, if any, as of the end of the immediately preceding fiscal quarter.

⁽³⁾  Any liquidation preference of our senior preferred stock in excess of $1.0 billion may be repaid through an issuance of common or preferred stock, which would require the consent of the conservator and Treasury. The initial $1.0 billion liquidation preference may be repaid only in conjunction with termination of the senior preferred stock purchase agreement. The provisions for termination under the senior preferred stock purchase agreement are very restrictive and cannot occur while we are in conservatorship.

⁽⁴⁾  Rate effective March 31, 2012. Variable dividend rate resets every two years at a per annum rate equal to the two-year Maturity U.S. Treasury Rate (“CMT”) minus 0.16% with a cap of 11% per year.

⁽⁵⁾  Represents initial call date. Redeemable every two years thereafter.

⁽⁶⁾  Rate effective September 30, 2012. Variable dividend rate resets every two years at a per annum rate equal to the two-year CMT rate minus 0.18% with a cap of 11% per year.

⁽⁷⁾  Rate effective December 31, 2013. Variable dividend rate resets quarterly thereafter at a per annum rate equal to the greater of 7.00% or 10-year CMT rate plus 2.375%.

⁽⁸⁾  Issued and outstanding shares were 24,922 as of December 31, 2013 and 2012, respectively.

⁽⁹⁾  Rate effective December 31, 2013. Variable dividend rate resets quarterly thereafter at a per annum rate equal to the greater of 4.50% or 3-Month LIBOR plus 0.75%.

⁽¹⁰⁾  On November 21, 2007, we issued 20 million shares of preferred stock in the amount of $500 million. Subsequent to the initial issuance, we issued an additional 1.2 million shares in the amount of $30 million on December 14, 2007 under the same terms as the initial issuance.

⁽¹¹⁾  Rate effective December 31, 2013. Variable dividend rate resets quarterly thereafter at a per annum rate equal to the greater of 7.75% or 3-Month LIBOR plus 4.23%.

⁽¹²⁾  Represents initial call date. Redeemable every five years thereafter.

⁽¹³⁾  On May 19, 2008, we issued 80 million shares of preferred stock in the amount of $2.0 billion. Subsequent to the initial issuance, we issued an additional 8 million shares in the amount of $200 million on May 22, 2008 and one million shares in the amount of $25 million on June 4, 2008 under the same terms as the initial issuance.

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

The table below displays changes in accumulated other comprehensive income, net of tax, for the year ended December 31, 2013.

		For the year ended December 31, 2013
		Available-for-Sale Securities(1)				Other(2)				Total
	(Dollars in millions)
Beginning balance			$	934			$	(550	)		$	384
Other comprehensive income before reclassifications			983				116				1,099
Amounts reclassified from other comprehensive income			(290		)		10				(280		)
Net other comprehensive income			693				126				819
Ending balance			$	1,627			$	(424	)		$	1,203

__________

⁽¹⁾ The amounts reclassified from AOCI represent the gain or loss recognized in earnings due to a sale of an available-for-sale security or the recognition of a net impairment in earnings.

⁽²⁾ Primarily represents activity from our defined benefit pension plans.

Accumulated Other Comprehensive Income (Loss)

The following table displays our accumulated other comprehensive income (loss) by major categories as of December 31, 2013, 2012 and 2011.

	As of December 31,
	2013			2012			2011
	(Dollars in millions)
Net unrealized gains on AFS securities for which we have not recorded OTTI, net of tax	$	365		$	1,399		$	1,152
Net unrealized gains (losses) on AFS securities for which we have recorded OTTI, net of tax	1,262			(465		)	(1,953		)
Prior service cost and actuarial losses, net of amortization, net of tax	(395		)	(505		)	(389		)
Other losses	(29		)	(45		)	(45		)
Accumulated other comprehensive income (loss)	$	1,203		$	384		$	(1,235	)

Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]

The following table displays reclassifications from accumulated other comprehensive income, net of tax, including the affected line item in our consolidated statement of operations and comprehensive income for the year ended December 31, 2013.

	For the Year Ended December 31, 2013
	(Dollars in millions)
Net other than temporary impairments (net of tax of $22)		$	42
Investment gains, net (net of tax of $179)		(332		)
Salaries and employee benefits (net of tax of $5)		10
Total		$	(280	)